Recorded at 10:52, Bao Tin Minh Chau listed the price of gold rings at 151-154 million VND/tael (buy in - sell out). The difference between buying and selling is 3 million VND/tael.
In addition to Bao Tin Minh Chau, other businesses have also adjusted the price of gold rings to increase sharply. However, no unit has increased to 150 million VND/tael.
DOJI Group listed the price of gold rings at 146.5-149 million VND/tael (buy in - sell out). The difference between buying and selling is 2.5 million VND/tael.
Phu Quy Gold and Stone Group listed the price of gold rings at 146.1-149.1 million VND/tael (buy in - sell out). The difference between buying and selling is 3 million VND/tael.
At the same time, the price of SJC gold bars was listed by Bao Tin Minh Chau at 148.1-149.1 million VND/tael (buy in - sell out). The difference between buying and selling prices is at 1 million VND/tael.
Meanwhile, DOJI Group listed at 147.1-149.1 million VND/tael (buy in - sell out). The difference between buying and selling prices is at 2 million VND/tael.
Phu Quy Gold and Stone Group listed the price of SJC gold bars at 146.5-149.1 million VND/tael (buy in - sell out). The difference between buying and selling prices is at 2.6 million VND/tael.
Domestic gold prices have broken out strongly in parallel with the steady increase of the world market. Recorded at 11:13 on October 16, the international gold price reached 4,233 USD/ounce - a new record high.
According to experts, the wave of buying in the global market is driven by expectations of the FED cutting interest rates soon to support economic growth, thereby reducing the opportunity cost of holding gold. Escalating US-China trade tensions and risks of global financial instability continue to push demand for safe havens up sharply.
The weak USD and strong capital flows into gold ETFs further strengthen the upward trend of the precious metal. In the context of falling real interest rates and investors shifting away from risky assets, gold is becoming the top priority investment channel on an international scale.
Below is the gold price update on the websites of some domestic business units at 10:52 on October 16:
See more news related to gold prices HERE...
